TIDMALB
RNS Number : 2086M
Albert Technologies Ltd
27 July 2017
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
27 July 2017
Albert Technologies Ltd.
("Albert Technologies" or the "Company")
Trading update
Albert Technologies (AIM: ALB) today announces a trading update
for the six months ended 30 June 2017. The Company continues to
execute its stated growth strategy, with revenue from its
pioneering AI-based SaaS marketing platform growing
significantly.
Financial Highlights
The Company's unaudited revenues for the first half of 2017 are
expected to be approximately $4.4 million. The Company's unaudited
adjusted EBITDA loss(1) is expected to be approximately $6.2
million. The cash balance as at 30 June 2017, including short-term
bank deposits, is expected to be approximately $17.0 million.
(1) Excludes share based compensation expenses of $0.2
million.
SaaS Business
SaaS monthly recurring revenues have tripled from January to
June 2017, and management is highly encouraged with this progress.
Additional affirmation of the success of the Company's SaaS
solution is provided by the Company's recent business wins, which
include a 12-month rolling contract with one of the world's largest
nutrition, health and wellness companies, and a strategic
partnership announced today with a leading business services group
in Australia and New Zealand. This partnership guarantees minimum
SaaS revenues during the first year of $800,000.
In the first half of 2017, the majority of the Company's overall
revenues were derived from the Indirect Business, but SaaS revenues
are becoming increasingly meaningful, supported by these recent
contract wins and ongoing sales and marketing activity.
Recognition of Albert
Albert has won recognition for his work on an international
scale in 2017. Most recently, Albert was awarded Best Advertising
or Campaign Management Platform in the SIIA CODiE Awards, in
addition to Gold in Most Innovative Product - Enterprise in the
International Best in Biz Awards. Albert was also named a "Cool
Vendor" in the "Cool Vendors in Advertising, 2017" report by
Gartner, Inc., following in the footsteps of previous winners
including Airbnb, Instagram and Dropbox. Furthermore, at the 15th
Annual American Business Awards, Albert was recognised in the Most
Innovative Tech Company of the Year category, winning a Bronze
Stevie Award.
As further endorsement of the Company's achievements, CEO Or
Shani was a semi-finalist in EY's Entrepreneur Of The Year 2017
Award in the New York Programme, and named Most Innovative CEO by
the CEO World Awards, being honoured with the category's Gold
Award. CMO Amy Inlow was recognised for her work launching and
bringing Albert to market as well as her broader contribution to
the marketing industry as one of fifteen leading women marketers in
this year's DMN Hall of Femme. She was also awarded a Gold Stevie
Award in the Marketing Executive of the Year category at the 15th
Annual American Business Awards and Silver in Marketing Exec of the
Year at the International Best in Biz Awards.
Indirect Business
The Indirect Sales business continued to be subject to
volatility and the Company experienced a slowdown in indirect
trading activity in the first half of 2017. The Board will continue
to closely monitor the performance of the Indirect Business.
Or Shani, Founder & CEO at Albert Technologies Ltd. said,
"Albert's rapid success with marketers, including our strategic
partnership for Australia and New Zealand announced today
underlines our confidence and belief in our pioneering service. We
are delighted to see this success translate to increasingly
meaningful SaaS revenues and we look forward to sharing continued
progress in this business with shareholders as momentum continues
to develop."
For further information, please contact:
Albert Technologies Ltd. Tel: +972 3537 7137
Or Shani, Chief Executive Officer
Yoram Freund, Chief Financial Officer
https://albert.ai/
Liberum (NOMAD and Broker) Tel: +44 20 3100 2000
Neil Patel / Chris Clarke
Bell Pottinger Tel: +44 20 3772 2556
Elly Williamson/Joanna Davidson albert@bellpottinger.com
www.bellpottinger.com
About Albert Technologies Ltd.
Albert Technologies Ltd. was founded in 2010 by CEO Or Shani to
liberate marketers from the pain and complexities of modern
marketing. The Company operates an Indirect Sales Channel, where
its technology is deployed in advertising exchanges to match
undervalued inventory with suitable demand. This is managed to help
support the continued promotion of the strategically significant
Direct Sales Channel, which offers artificial intelligence-based
software, Albert, to brands using a SaaS model. Albert Technologies
Ltd. listed in 2015 to accelerate both investment into and
commercialisation of Albert.
The Company and Albert have received many awards in its short
existence, including two platinum MarCom awards and silver in the
Best in Biz awards 2016 for best new product of the year. Albert
was also named AI Application of the Year by The Global Annual
Achievement Awards for Artificial Intelligence.
About Albert
Albert replaces the human campaign manager in managing a brand's
online advertising campaigns. A brand, such as Cosabella or Harley
Davidson, provides Albert with access to its Google, Facebook,
Bing, Twitter and other online marketing channels. When a brand
manager wishes to launch a new online advertising campaign, she
simply logs into Albert and deploys that new campaign, which is
usually no more than a 15 minute task.
Albert autonomously creates hundreds of micro campaigns across
all relevant online marketing channels (Google, Facebook, Bing,
Twitter, Instagram, Display, Email, etc), then reviews these
hundreds of micro campaigns every few minutes and optimises each of
them as needed. Albert works in very much the same way that a human
campaign manager would, making correlation and cost/benefit based
decisions.
Where an experienced campaign manager could possibly make circa
100 decisions per day, Albert can make thousands per minute.
Albert's ability to launch hundreds of micro strategies and review
and amend them all every few minutes typically brings about a
significant increase in ROI. In addition, all learnings from the
decisions made remain in house, so the brand has full and instant
transparency and can easy scale up marketing activity through
larger budgets or application to new brands and new geographies
without hiring new expert campaign managers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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